Colombia appoints Arturo Galindo as central bank board member

Colombia appoints Arturo Galindo as central bank board member

President Ivan Duque on Friday appointed Arturo Galindo as a new member of the board of Colombia’s central bank, replacing Jose Antonio Ocampo, who resigned last week.

Announcing the appointment on Twitter, Duque described Galindo as a “prestigious economist” who holds more than 25 years experience.

Galindo will join the seven-member board of Colombia’s central bank after a stint of more than 11 years at the Inter-American Development Bank, where he is chief of the strategic planning and monitoring division.

After graduating from Colombia’s University of Los Andes, Galindo went gained a PhD in economics from the University of Illinois Urbana-Champaign in the United States.

Galindo said the appointment was an enormous honor.

“I assume this challenge with a huge commitment joining a wonderful team,” he said on Twitter.

Colombia’s central bank has kept its benchmark interest rate at 4.25 percent since April 2018. The majority of the market expects the bank to extend this decision throughout 2020.

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